Qatar has decided to invest USD 3 billion in cash-strapped Pakistan to help the latter in shoring up its crumbling economy.

This was announced on Monday after a two-day visit of Qatar’s Emir Sheikh Tamim Bin Hamad Al Thani to Pakistan as the Imran Khan-led government continues to battle a ballooning balance-of-payment crisis.

“Upon the directives of HH the Amir Sheikh Tamim bin Hamad Al-Thani, HE Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al-Thani announced new investments in the form of deposits and direct investments in the Islamic Republic of Pakistan worth a total of USD 3 billion,” the Qatar News Agency said.

With this new investment package, the size of the Qatari-Pakistani economic partnership will amount to USD 9 billion, it said.

The UAE has provided a bailout package of USD 2 billion to Pakistan.Last month, Islamabad had reached an agreement with the International Monetary Fund for a bailout package of USD 6 billion. The deal is expected to be approved by the IMF Executive Board on July 3.